Russell Simmons has agreed to pay Kimora Lee Simmons $40,000 a month in child support. Kimora filed for divorce in March 2006 siting irreconcilable differences and seems to be the big divorce winner. Kimora won full custody of daughters Ming, 9 and Aoki, 6. And Russell will have to pay $20,000 a month each until the daughters turn 19 and a half.

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Russell must also provide a new car for Kimora and the girls every three years. He gets to see his daughters every eighth week of the school year and on certain holidays.

“Both sides reached this settlement amicably, and are looking forward to moving on with their lives,” Lee Simmons’s attorney Daniel Jaffe told PEOPLE.

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